Profitability has been improved thanks to a cyclicalupturn driven by demand from emergingeconomies and a strategyofplacing greater emphasis onspecialtychemicals.
Profitability has been improved thanks to a cyclicalupturn driven by demand from emerging economies and a strategy of placing greater emphasis on specialty chemicals.
However, there is a danger that, when labour markets are gummed up, a cyclical rise in unemployment can turn into a structural one making it impervious to an economic upturn.